Damus
Jeff Booth profile picture
Jeff Booth
@Jeff Booth
It’s probably worth noting all of excess in US government spending that needs to be cut, will create a dangerous feedback loop and likely deflationary spiral because all of those excess jobs are also spending, buying homes, eating out, traveling, spending on marketing etc. When they stop/slow down - and then require social assistance - debt as a % of gdp screams higher.
Ie - That expansion of government and regulation is a direct consequence of manipulated markets trying to stop the natural deflation in free markets but also an integral part of them - robbing more jobs from the free market, and misallocating capital everywhere.

In other words, it’s going to be messy!

The debt needs to come down first and that means money printing and much higher inflation.
Or as @Lyn Alden memes so effectively “Nothing stops this train”

In either event - #Bitcoin is your lifeboat.
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Tracy · 76w
It's time to take the medicine.
Paul · 76w
Should ₿e a fun ride!
TallBrian · 76w
I have heard Elon and Vivek suggest firing a massive number (75%?!) of government employees but continuing to pay them for 1-2 years while they find new rolls in the real economy. Seems that may help a little with the deflationary impact, at least in the short term. No matter what your point stands...
djmeistro✝️ 🍊💊⚡️ · 76w
https://media.tenor.com/x0k3jHO41aoAAAAC/eating-popcorn-nom-nom.gif
FiddleHodlHomestead · 76w
I've been wondering about this. It seems like most of the job creation in the last few years are public sector. positions Firing all those people at once means a huge jump in unemployment, which seems (even for those of us who don't quite understand deflationary spirals) like it will create a whole ...
WildBill · 76w
I agree to an extent. The debt:GDP needs to come down. If the DXY comes way off 106 and we pump cheap energy into the economy, only then followed by tariffs and an increase in domestic production/unskilled labor employment opportunities, I don’t think we will miss much of that Federal waste.
MindMining · 76w
The ones who created capital misallocation are the ones able to stop/reduce it. Will they want it enough? It will create a lot of issues for freeloaders having to find a new job yeah, but they might find a job helping to create goods and/or services. Actual value.
syntaxerrs · 76w
Thinking what will win the day.. AI and it solutions. Whereas government used to throw money at problems they will likely indiscriminately throw AI. jmo though.
nostrich · 76w
Didn't Bukele's advisors have the same argument when he wanted to dismantle the gangs overnight ? That they were worried about the economy and how big a part the gangs played in it. What happened instead was people were freed to live their life and the economy flourished. If you match the headcount ...
Daniel Morrissy · 76w
Seems ironic that the path to abundance is absolute scarcity.
Dennis Lake · 76w
It’s like how the body would respond to switching from a diet in highly processed foods to a diet high in beef (protein and fat).
Mike Hall ⚡️ · 76w
Incredibly wise, I always appreciate your balanced view.
Blissful Sats · 76w
Argentina’s Millei drastically reduced government jobs, closed the central bank and eliminated the budget deficit resulting in the strong rebound of the peso. Where’s the negative feedback loop?
Peace K · 76w
You can't cut the debt without cutting spending. Salaries are a big part of the spending. If you cut government employees and eliminate regulations at the same time, new jobs will be created to accommodate the former gov. employees. This will decrease the negative impact of mass layoffs.
Bitcoin Golf Pro · 76w
Question: How can expansion of gov be robbing more jobs? I thought the free market is eliminating jobs thru technology.
JRA · 76w
Sounds like we’ve crossed the debt event horizon …
Bitcoin4Lebanon · 76w
Few understand that in order to counter inflation, you have to increase the money supply, otherwise a deflationary bust and everything collapses! The only question is who get the money from the increase of the money supply! Bitcoin is the only hope and only path forward, it is inevitable! Why we do ...
Toby McMann · 76w
"So, don't worry about this. You don't have to accept it all at once; I'm not sure that anyone can. Just take what you can, then come back for more later. It's just as well to let ideas like these sink in and build slowly. When you plant seeds, they shouldn't spring up immediately...they take root f...
Mohammed · 76w
I've heard of the idea of monetizing the debt through bitcoin. Although I doubt this is the thing that could stop the train, but the ramifications of such a move are surely dramatic to bitcoiners.
matt · 75w
I was wondering about that. The inefficiencies are a fairly safe way of expanding the balance sheet
Richard Bedford · 74w
broken window theory near term. long term, they will produce and not just consume 🙏🧡
Bitcoin Quokka · 74w
True, this is why buying a large quantity of bitcoin will be required prior to such government department cuts. Bitcoin IS the financial lifeboat that will steer you toward an abundant future. This applies equally for individuals and governments. Game Theory mode = ON